Section 29(2) in The Insurance Regulatory And Development Authority (Insurance Brokers) Regulations, 2002
(2)The purposes referred to in sub-regulation (1) may be as follows, namely:-(i)to ensure that the books of account are being maintained in the manner required;(ii)to ensure that the provisions of the Act, rules, regulations are being complied with;(iii)to investigate the complaints received from any insured, any insurer, other insurance brokers or any other person on any matter having a bearing on the activities of the insurance broker; and(iv)to investigate the affairs of the insurance broker suo motu in the, interest of proper development of insurance business or in policy holders' interest.
